Fed: On hold for now - SocGen

Kit Juckes, Research Analyst at Societe Generale, suggests that the Fed’s on hold for now and probably until after the Presidential Election and that’s all that matters.

Key Quotes

“Fed Chair Yellen’s speech in Philadelphia yesterday reaffirmed a desire for gradual interest rate increases and could have been read as a sign that the FOMC isn’t going to be deterred by one month’s weak employment data, but the market focused instead on the Fed’s data-sensitivity. They seem to be keener on markets pricing in the possibility of a rate move, than actually delivering one. And while markets view the world in that way, then riskier assets will continue to find some support.”